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is life in washington with more. >> republicans have had their proposal to avoid the fiscal cliff complete with 800 billion of new revenue over a decade on the table for more than a day now. it has yet to be publicly embraced by the slightest bit by any prominent democrats. because of that gop lawmakers are saying that means the white house wants to go over the fiscal cliff to make it a point. >> howard dean said it patti murray who ran the senator ideal committee. i think the presidency is a political victory for his party as they go over the cliff. i know republicans are concerned there is going to be a secondary session. >> the white house proposal raises taxes 1.6 trillion over a decade. republicans close loopholes and get rid of deductions. they say the mast won't work. >>> it is still out of balance. it is 800 million worth of revenues. he said he is going to do that by lowering rates. when you look at the map it doesn't work. >> the house majority with kevin mccarthy said yesterday the speaker moved to the middle by putting revenue on the table. jay carney also said the boehner plan
now. >>> u.s. stock futures higher. fiscal cliff talks, federal reserve meeting in washington, two drivers for investments over the next couple of days. futures holding in there for now. >>> federal and state authorities have reached a record-setting settlement with british banking giant hsbc. europe's largest lender has agreed to a staggering settlement. this is a big fine. hsbc is accused of helping transfer billions formations like iran doing business with firms linked to terrorism and also enabling mexican drug cartels to move money illegally through u.s. subsidiaries. >> considering that, that sounds low, $2 mibillion for helping mexican drug cartels and terrorists out of iran? >>> and asia asending, the west in decline. 300 years of the west rising is reversing. american intelligence agencies are preparing this report that they do every four years for incoming administration. the world undergoing tectonic shifts, comparable to the french revolution and industrial revolution, but happening much faster. by 203 0shgs asia will see the power it last had in the middle ages and the
warnings and it's likely to bring new sanctions against the north. >>> to the fiscal cliff now, leaders in washington have less than three weeks to reach a budget deal or else face automatic spending cuts and tax increases that are likely to send the country back into a recession. the agreement has been slow. president obama and congressional republicans remain split on raising taxes on upper middle-class americans. susan mcginnis is in washington with the latest now. susan, good morning to you. >> hi. good morning, terrell. both sides are talking publicly about what they want. the gop pushing back against that. but privately negotiations do continue. in an exclusive interview airing on abc's "20/20" this friday night, president obama says he's optimistic a deal will be reached, and he's confident the gop won't hold the middle-class taxes hostage to protect higher income americans. >> taxes are going to go up one way or the other, and think the key is to make sure the taxes go up on higher individuals like you and me, barbara. we can afford it. >> reporter: earlier on tuesday the presid
. >> absolutely. >> fiscal cliff negotiations in washington, still up in the air. most lawmakers have gone home for a long weekend. >> i'll be here and i'll be available at any moment to sit down with the president if he gets serious about solving this problem. >> the duchess of cambridge has left hospital. there for morning sickness. >> how are you feeling this morning, kate? >> as of today, possession of small amounts of marijuana is legal in the state of washington. >>> now the 55th annual grammy awards revealed. the top contender, kanye west and jay-z. >> he's got it. kobe bryant. the greatest player in the history of the los angeles lakers. >> all that, ready for your mistake? >> yeah. i'd like to hear it. >> can eating while driving be distracting. >> no! >> and all that matters. >> former senator alan simpson is bringing his meg abossage ab the national debt to a new generation. >> gangnam style. >> on cbs "this morning." >> the star? a toddler and tiaras earning a spot on barbara walters list of the 20 most fascinating people, then barbara said, i can't do this [ bleep ] anymore and ret
that gives workers the right to not pay dues. >> steve: washington can't find a solution to the fiscal cliff . but someone who fixed budgets in the past know it is simple. >> if i raise taxes again i will have to do it in two or four years . people are going to leave. >> steve: find out how america's mayor did it straight ahead. straight ahead. feel a cold coming on? gretchen, you will be better in no time. we'll drink to that. >> you will be better in no time and all of my teases will rhyme today. "fox and friends" starts right now. ♪ ♪ "fox and friends". >> steve: ho, ho, hompt look who is here today eric boling. >> gretchen: you get your own personal lurch. >> eric: good to be here. >> steve: you will find out how booze, beer and wine can make you healthier. the news we have all waited for. >> gretchen: yeah, a lot of people waking up with a headache. now it makes sense why i drank so much last night. overnight a developing story. a medical chopper went down last night leaving three people dead. the chopper which is reggistered to rock ford memorial hospital it went down in a field .
your business this morning, markets in a holding pattern as fiscal cliff talks continue in washington. but the s&p 500 is up 12% so far this year. and a 20-year veteran investment strategy at goldman sachs, abby joseph cohen, she estimates stocks could rise another 10% to 15% next year. she says the fundamentals of the u.s. are solid, despite the fiscal cliff concerns coming out of washington. she says stocks could get hit in the early part of the area if we go over the fiscal cliff, but the fundamentals of the economy are still good. >>> all right. apple stock dropped more than 6% yesterday. shares were down about half a percent in pre-market trading this morning. no concrete news pushing them down, but today there's another hearing in the patent case with samsung in california. and a tech research report generatored a lot of buzz that apple's tablet competitors could eat into its market share. >> interesting. >> thanks, christine. >>> well, the good news is, let's do the fiscal cliff and the good news. and it's not very much. but at least the two sides are talking, by phone. not fac
council in washington at 10:45 eastern as he pushes for a budget plan to avoid the fiscal cliff, that includes high tax rates for the wealthy. house republicans are meeting with small business owners today. lawmakers are divided on how much they should compromise with the white house. this is a day after the house speaker john boehner unveiled a budget proposal that included some revenue concession but he faced heavy criticism. mitch mcconnell wouldn't publicly endorse boehner's plan, while jim demint says it would destroy jobs. at the same time, the kkr co-chairman and ceo henry kravis says uncertainty is the main reason why investing isn't happening right now. he says many companies are rushing to close deals before the end of the year, concerns about whether the capital gains tax will rise. he says the fiscal cliff shouldn't be a big issue, and if businessmen got into the room they could solve the problem much faster than congress. >>> adding his tuppence, he says they'll have to get used to it and the fiscal cliff is one of the reasons. >> we have structural influences that
in london. >>> in washington all eyes on the fiscal cliff, now just 22 days away. with the white house and republican leaders at a stalemate, president obama is hitting the road to rally support for his plan, which would raise taxes for the wealthiest americans. he met yesterday with house speaker john boehner, their first face to face meeting in more than three weeks. today the president will visit a detroit engine factory to rally support from auto workers. the president's meeting with speaker boehner didn't yield a big breakthrough, but the men did manage to agree on one thing, and that is that they will keep their negotiations behind closed doors. the men released this identical statement, saying this afternoon the president and speaker boehner met at the white house to discuss efforts to resolve the fiscal cliff. we're not reading out details of the conversation, but the lines of communication remain open. cnn's dan lothian is at the white house this morning. dan, i guess the fact that the lines of communication are open is a good sign. >> reporter: that's right. it is a good sign
cliff, live from washington, starts now. >>> america, we're on the edge of the fiscal cliff. billions are at stake. and your money hangs in the balance. while washington quarrels with itself, time is slipping away. the only solution for our government to put differences aside and put real compromise on the table. rise beyond disparity. rise past adversity. rise above. this is a cnbc special report. mission critical. rise above dc. >> our special mission critical rise above dc coverage continues right now. all day long we are here in washington holding lawmakers' feet to the fire on the fiscal cliff. here's what we know right now. in terms of some of the moments from this morning, senator mark warner from virginia saying compared to the size of our economy and the drastic steps that have been taken in other countries the current proposals are relatively small and government should just step up and get a deal done. senator bob corker, though, hesitant about signing any deal if there's not some sort of agreement about increasing revenue. he says there's no guarantee enough will be done a
, to meet with the middle class family that will feel the impact of the fiscal cliff. as danielle nottingham reports for wjz from washington, outside, groups are turning up the pressure for congress and the president to reach a deal. >> representative maloney. >> reporter: lawmakers are gettingang earful about why they need to avoid the so- called fiscal cliff. >> you gotta nail this down. uncertainty is killing us. >> reporter: top economists came to capitol hill thursday to talk about the impact of tax increases and government spending cuts on the middle class. >> a couple thousand dollars means a couple months rent. for this family. >> reporter: the white house has made clear, the country could go over the cliff if republicans refuse to raise taxes on the top 2% of american earners. >> for them to be burdened, unnecessarily because democrats and republicans aren't coming together to solve this problem, gives you a sense of the costs involved in very personal terms. >> reporter: republican leaders say they will close loopholes and eliminate tax
, how do you prepare for the uncertainty surrounding the fiscal cliff and these washington issues? i guess it's -- you know, in the back of your mind, but you got to run a business, don't you? >> sure. look, we plan with uncertasrcer all the time. our whoerizeons are 30, 40 years. there are big time economic horizons going on. one of the thing we're a indicator of is the future health of the economy. what we have seen is first quarter this year was a really good quarter. second quarter was okay. third quarter went to a dead stop in terms of economic growth. at least in the southeast. we have over 300 projects sitting on the shelf representing about 45,000 jobs. $15 billion of investment that is waiting to see how this fiscal cliff situation gets resolved. that will determine the future direction of the health of the economy, i think. >> dividend taxes are going up, tom. >> well, so here's the deal there. you know, there's this -- there's this notion that, well, we've got to strike a deal. and frankly, this isn't a republican issue or a democrat issue, this is an american issue. effec
in washington as the fiscal cliff looms and fears of a recession close in. >> the latest negotiations and nasty exchanges in a battle over everyone's money. it is wednesday, december 5th. >> announcer: from abc new, this is "world news now." >>> good hump day, everybody. wednesday morning. i'm rob nelson. >> and i'm paula faris. >>> we're going to update you on the big fiscal fight in our top story from washington. and from one capital to another, the political uproar in egypt. how cairo police are taking action as thousand of protesters hit streets in outrage. an all-too-familiar scene. >> most protesters say it seems like they traded one dictator for another. >> for another. >>> hard to believe it is. they're part of a growing group of so-called preppers getting ready, as you can see, for the very, very worst. normal everyday folks getting ready for the end of time. >> completely normal. wow. >>> later this half hour, the upcoming movie from "lord of the rings" series and why some fans who have already seen it say the film made them sick. but this film, we're not going to tell you exactly wha
on what's happening with the fiscal cliff out of washington, the bank of england leaving its interest rate unchanged. at this point we're a few weeks away from the end of the year. money managers have an uncanny ability to drive stocks higher allowing them to claim quarterly performances that attract more money and higher fees. the practice is illegal but experts say that a sudden spike is a deliberate distortion of prices. as you'd expect window dressing is more common with thinly traded stocks and among the names of stocks appear to have been used as window companies, iridex, carver bancorps, altagen and legaga holdings. the next day the stock gives back some percentage of the gains, at least 3%. >>> the parade of companies announcing dividend changes continues because of all the uncertainty surrounding the fiscal cliff. cme group declared an annual variable dividend of $1.30 a share and accelerating the timing into the current quarter.'s sporting goods is announcing a cash dividend of $2 a share and says cfo tim coleman is retiring. >>> zynga -- i like to say that, zynga is filing prepa
today, you know, what's going on in washington and, you know, with this fiscal cliff and, you know, what the impact will be of it. >> well, it's an important point. how is the project funded? where did you source the funding for the development? >> that's one of today's challenges. you don't get to the same costs you would typically get them. it requires more equity and piecing together the banks to put together a loan of the size needed for this. probably our greatest challenge would be -- because we're looking to build. this is only 1,700,000 square feet, in the first phase 6 1/2 million, where's the rest of the capacity to come from for the construction loans that we need? >> the banks were the first source? >> yeah. >> and we're looking at other sources going forward that are kind of unconventional. you have to think outside the box. >> oh, definitely. >> in order to do a job like this today. >> what kind of unconventional sources? >> well, you have a lot of these public reits, you know, that are looking for greater yields, so it's the whole period, i don't know how you do constructi
members about the fiscal cliff. and tonight at 7:00 p.m., maryland senator ben cardin will join derek mcginty in our studio. last night virginia democrat jerry connolly stopped by and the 11th district representative stressed that there is room for compromise on his party's side. >> it ought to be open to negotiation what the income threshold s. the president has laid out -- is. the. has laid out 250. i think there's maneuverability there. i think it's too low. >> could it be 37, 38? >> i think he's signaled he's willing to negotiate on that but the republicans have said so far no tax increases of any kind. >> you can keep up to date on our approach to the fiscal cliff any time. just go to our website wusa9.com. click on the fiscal cliff banner which is at the top of our home page. you'll find a countdown clock and a calculator to help you figure out the impact the fiscal cliff will have on you. >>> u.s. senator jim demint has announced he's resigning. the republican from south carolina is leaving capitol hill to become president of the heritage foundation. he was first elected to the se
the so-called fiscal cliff. >> you have to nail this down. uncertainty is killing us. >> reporter: top economists talked about the impact of tax increases and government spending cuts on the middle class. >> a couple thousand dollars, means a couple months rent for this family. >> reporter: the white house has made clear the country could go over the cliff, if republicans refused to raise taxes on the top 2% of american earners. >> for them to be burdened, unnecessarily, because democrats and republicans aren't coming together to solve this problem, gives you a sense of the costs involved in very personal terms. >> reporter: republican leaders say they will close loopholes loopholes and eliminate tax breaks to raise money. but insist that bush-era tax cuts must be extended for all americans. >> reporter: the standoff and the country's skyrocketing debt, concerns ryan shenecki. so much so that he's the guy in the suit, dancing gangnam style with former senator allen simpson. >> i'm keeping up on this baby. >> reporter: his group, the cankicksba
a whole lot of fuel to this current debate that is occupying washington over the fiscal cliff and finding a deficit reduction plan and also sort of coupled with trying to avoid these spending cuts and tax increases that are set for the end of the year, don. >> what is that, is that a leaf blower? what's going on behind you? >> reporter: honestly, sometimes -- i think it is a leaf blower. sometimes it's a jack hammer. sometimes it's a leaf blower. sometimes it's a lawn mower. always a lot of work going on here at the white house. >> thank you, brianna keilar. have a great morning. >> from jobs now to labor. protesters are furious that michigan's republican controlled house and senate quickly passed controversial right to work bills. the bills limit the right to strike and picket and employees cannot be forced to pay union dues. democrats and union supporters say this is a huge blow to workers' rights. >> it terrifies me that they're trying to pass this through so quickly with no discussion from the other side, no understanding of what's important in it. >> poppy harlow joins us now from la
. >> to washington, d.c. now and the fiscal cliff negotiation. the back and forth between both sides hasn't been complimentary. quite the opposite, in fact, which means the country needs to prepare for what comes next. that would be automatic spending cups and the expiration of bush era tax breaks. the pentagon has been preparing, and as our john callan reports, so have families who have a whole lot to lose if a deal doesn't get done. >> reporter: jeremy connor, married father of two. >> i've worked recently for a very large defense contractor, and my wife works for that same defense contractor. >> reporter: he left that job after 18 years for more stability since the couple both worked in the same department. >> the discussion of the fiscal cliff just made sense for one of us to get out. >> you know, we didn't know what it looked like down the road, if we were even going to have jobs at all. >> reporter: pentagon's budget for the next ten years has already been flashed $500 billion, and could face another half trillion in automatic cuts if congress fails to compromise on a deficit-reducing agre
the move august. experts say it could be the sail mate in washington around the fiscal cliff that's causing th this. chris stirewalt is our host of power play on foxnews.com live. this consumer confidence report shows the levels have plunges to the lowest in five months. is this getting any play in washington or was all the talk about the jobs numbers and unemployment rates? >> the jobs numbers weren't good enough to overshadow too much. but the reality in washington is this. that regardless of how bad things are getting right now, and regardless of how much they are scaring the rest of the country, they seem dead set on going over the cliff right now and it will take a lot more than panicking consumers before they change their minds. alisyn: melissa francis is the host of "money" on the fox news business network. explain what consumer confidence means and why it's so bad. >> a lot of it has to do with the fiscal cliff. but as you look deeper into these numbers and the questions they were asking, a lot of people respond saying they feel like taxes are going up count road and that made them
. >>> if washington can't keep us in this country from plunging off a fiscal cliff, there seems to be more at astake than many know. we know about the massive taxes and the big cuts to the military and entitlement programs, but there's something else that could happen, and it could directly impact the safety of the food you buy and the food you eat. here's cnn's emily schmidt with the details. >> i like this one. >> reporter: preparing for the holidays at their house is a reminder of something else just around the corner, a fiscal cliff deadline that is personal here. >> i just can't imagine funding being cut at this point. it would be tragic. >> she's worried mandatory budget cuts would hurt food safety inspection that's mattered to her since her twins were born in 1999. >> chloe was in the hospital for two weeks and luke for three. >> they got listeria poisoning from meat she ate while pregnant. they same it sickened 48 million people a year, 3,000 die. the fda and the usd a's food safety and inspection sfgs are charged with protecting the food supply. an 8.2% budget cut translating to a combined
to avoid the so- called "fiscal cliff." >> you got it nail this down. uncertainly is killing us. >> reporter: top economists came to capitol hill thursday to talk about the impact of tax increases and government spending consults on the middle class. >> creating jobs -- >> reporter: president obama and house speaker john boehner spoke on the phone wednesday but publicly are holding firm on their positions. the white house has made clear the country could go over the cliff if republicans refuse to raise taxes on the top 2% of american earners. >> to do that to 98% of the american people, because of an insistence that the wealthiest americans get a tax cut would be profoundly wrong. >> reporter: republican leaders say they will close loopholes and eliminate tax breaks but bush-era tax cuts must be extended to all americans. >> reporter: the standoff and debt concerns ryan. so much so, that he is the guy if the suit dancing gangnam style with former senator alan simpson. the group the can kicks back is working to get young people involved in fixing the debt crisis. >> we are trying
and congress can't make a deal on the so-called fiscal cliff. a source of great concern for so many people, everyone's taxes will go up, will go up if there's no deal. let's go live to our white house correspondent dan lothian. he's on the scene for us over at the white house. how did it go, dan? >> reporter: well, wolf, we've seen the president do this before in the past whenever he's locked in negotiations with lawmakers. he heads out on the road, either goes to a backyard or sits down around a dinner table to put pressure on congress. that's what he did today when he went to falls church sitting down with the santana family. their parents who also are employed live in the household with them. so if taxes do go up on middle class americans, the overall hit on that household will be $4,000. so they're very concerned, but they were quite happy. they said it isn't every day that the president comes by and hangs out at your house. the message the president was trying to drive home today was aimed directly at congress and using this backdrop to tell a personal story. >> for them to be burdene
washington post," thank you so much. >> thank you. >>> the fear of the fiscal cliff and its effect on real people. >> we're not trying to live off the system. we're trying to survive. it is not a luxury to be on unemployment. it is a means to keep us going. >> coming up next, the unhome employed who are waiting for fiscal cliff deal. there's a health company that can help you stay that way. what's healthier than that? in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ >>> want to return again to the budget talks in washington. the president is getting pressure from his left flank today, progressive democrats warning him not to make cuts to medicaid in the fiscal cliff negotiations. one expressed dismay today at the climate of secrecy surrounding the talks. listen if you would to senator jay rockefeller of west
and president obama remain very far apart in the fiscal cliff negotiations. political reporter jamie dupree joins us via skype from washington, d.c. you said there's two words we are not likely to hear and we haven't heard in any of this fiscal cliff debate. >> reporter: yeah, balanced budget. in all of the talks we've heard about the fiscal cliff, we've heard about balance and new tax revenue. but we don't hear balanced a budget. i think -- balanced budget. i think this speaks to how bad the situation is in the federal government when both parties don'tage knowledge that. as for -- don't acknowledge that. as for what's going on, just downstairs from me, speaker boehner started throwing cold water on any report that the talks were moving ahead. yes, there have been an exchange of offers. he said the last couple of days, but he said his phone call last night was a frank discussion about just how far apart they are. with 19 days left until the deadline or nine days until the end of the world, if you are look at the mine cardinal, nobody knows which way -- calendar, nobody knows which way we a
understand we need to sit down and work together and avoid this fiscal cliff. >> debbie, always a pleasure. good to see you. let's bring in lori montgomery for "the washington post," democratic strategy blake zeff. we decided to focus on this today. lori, let me start with you. both house leaders today, it really seems as if talks are -- it seems they're at a standstill, but our first read team is convinced a deal is in sight. we heard from debbie wasserman schultz she heard a deal is in sight. what are you hearing? >> you can see what the framework of a deal is, and i think today you heard speaker boehner. his office tried to walk it back, but for the first time he made public remarks where he didn't rule out an increase in tax rates. you have to wonder if they don't start to move towards a resolution it to what has been the big stumbling point. >> zachary, she mentioned an increase in rates. it would seem that the magic number might be 37%. the president said 39.5% for the highest income earners. right now we're at 35%. maybe i'm oversimplifying, but the obvious compromise would be right
. martha: west virginia senator joe manchin, a democrat discussing the fiscal cliff, social security within medicare. he believes they must be run more efficiently. >> last year the office of budget management says $115 billion was misspent. that's a tremendous savings right there. they are both much lower than everyone says we need. all economists say we need a minimum of $4 trillion or greater swing. that means a combining of many things. i think both of them are in the two or not much more than two or lower than two. that only goats you halfway there. i don't know how we got off track of what we really need to fix this. martha: he argues the economy is ready to take off if people would just stop playing the blame game. bill: one of the changes that may be coming is the reduction in the mortgage interest rate duck you can claim. but according to the i.r.s. only a small percentage of americans claim it after all. all. 37% in maryland and 15% in north dakota. 73 per of americans are opposed to changing that. martha: the owner of popular restaurant chains claims complaints about obama-care h
for you live. >> watching what's happening in washington today with the fiscal cliff. another round of negotiation between the white house and speaker john baker. aside is willing to bend. the president insisting that expiring tax cuts be renewed for everyone except for the wealthiest americans. republicans insist on deeper cuts in entitlement programs like medicare. neither side is given any specifics on what they're planning to cut. a likely compromise would include tax increases on the top tax bracket from 35 to 37 percent, not the 39% the president is asking. significant cuts to medicare to go into effect. the debt ceiling is also looming in these talks. the treasury say the u.s. is likely hit its 16.4 trillion dollar debt limit by the end of this year. the treasury could use creative measures that would stave off in the u.s. debt default until mid february. as far as where we are with these talks right now watching 10? we are basically nowhere. and is looking more likely that we will go off the fiscal cliff at the end of the year. 706 a m right now and we'll be back with more i
laws so this is the room w where any deal on the fiscal cliff would be born or die. we have we have new information on those negotiations in just a moment.. >> that's right, it's incredible it's incre to be here in this room. we're going to talk more about mor this a little later in the show. >> surrounded by all the photographs of all the powerful house & ways means chairmen.and >>> we want to get to some of first. the news first.g with violent ski on the other side ofn the the country, thousands of of the holiday shoppers had to ask thor yesterday as a man wearing camouflage opened fire at a mall hundreds o just outside portland oregon. police say he killed two people and wounded another, then shot another, himself to death. john blackstone is at clackamass town center. john good morning. >> reporter: good morning, norah and charlie and good morning to our viewers in the west. the christmas spirit quickly left this mall yesterday. one eyewitness said the gunman was wearing a hockey mask and bulletproof mask and calmly fire on announced he was the shooter before he
for american progress. >> as washington is focused on the fiscal cliff and other issues around the budget and long-term fiscal discipline, one may wonder why we are having an event today on innovation. we are doing it because these issues are linked. ensure in the united states is maintaining its head in the global economy. role is central to that competitiveness. that has not just happened by happenstance. it has been the work led by the private sector but decisions that have been critical to that success. we look at the questions around the united states fiscal discipline. we wanted to make sure that we have some discussion about the assessment we made in the role of issues that are not always at the forefront. the vital role america's universities have played. the fact that our institutions of higher learning are the best in the world and people from around the world want to come to the united states to be our next generation of on japan new hours because of our system of higher education. the staff that we have our worldwide brands because of the innovations that they have made and th
left until the fiscal cliff, but there's signs this morning the stalemate in washington is starting to break. >> and that's good news for both sides of the aisle. president obama and house speaker john boehner met face to face sunday for the first time in nearly a month. major garrett is at the white house with where things stand this morning. >> reporter: speaker boehner has told the white house and his fellow house republicans he wants the outlines of a fiscal cliff deal no later than this saturday. and if that's to be achieved, events of this past weekend may have proved piftal. obama and boehner met here at the white house sunday, and that meeting left both hopeful those subsequent conversations at the staff level achieved little apparent progress. even so, the president extended the invitation to boehner friday after boehner, for the first time in a press conference, publicly at least hinted he might be open to raising the top income tax rates on the top 2% of american household income earners. that may have cleared an opening for the president and boehner if that did, in fact,
,000. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. again, there is no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. remember, it's only 2%. >> with both sides in washington publicly digging in their heels, how much will the fiscal cliff impact the credit markets? ben garber joins us for more. ben, good morning. clearly we're focused on the down side risk from the budget standoff and then there's beyond that. let's talk about the short term at the moment. what impact is that having? >> i think people have to be defensive in the short term. there will be a lot of rancor on both sides. so within the next month or so, as the fiscal cliff debate developments, there is limited up side for interest rates and it's hard to see stocks moving much higher. >> so let's suppose we get an agreement. that should increase confidence. does that mean the economy performs better next year than we expect and then what's the feed through from that? >> yeah, i think while we're now focused on a lot of t
morning. thank you so much. in this country president obama says cutting a deal to avoid the fiscal cliff could to be done in a week but the president said that won't happen unless republicans drop their opposition to hire taxes for the wealthy. president obama visited a virginia family to move his cause. he maintained his hard line on tax increase. >> just to be clear i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. but i do remain optimistic that we can get something done. >> congress and the president have until the end the year to avert automatic spending cuts and tax increase. take a quick break. when we come back on the morning news a preview of this morning's jobs report. what role did sandy play in last month's hiring. this is the morning news. port. what role did sandy play in hiring? ♪ [ male announcer ] with free package pickup from the u.s. postal service the holidays are easy. visit usps.com. pay, print, and have it picked up for free before december 20h for delivery in time for the holidays. you can even give us s
to avert what they're calltion the fiscal cliff. earlier today the president met with a family in fairfax county struggles of the middle class. mr. obama sat down with tiffany and richard santana. they're living with tiffany's parents in their effort to make ends meet. tiffany wrote to the white house about how across the board tax hikes would affect them. she did not expect a personal visit, though, from the president. >> so overwhelming to know that the leader of the free world is sitting at your kitchen table. being more like a $4,000 tax increase for us, which would be relatively devastating for our family. >> republicans are refusing any deal that raises taxes. the president says he'll only sign a deal that raises taxes on the wealthiest 2%. >>> there is a newest mat tonight on the cleanup costs from superstorm sandy. new jersey's governor chris christie says the storm caused $37 billion in damages to his state alone. today he made the rounds at the white house and on capitol hill. he's asking lawmakers for an additional $88$83 billion in zafltzaflt disaster aid for his state and new
politics, the fiscal cliff. are we ever going to be able to enjoy a holiday season in washington? joining me for a look at the week that was, susan page, "usa today's" washington bureau craze, chris freights, congressional correspondent for the national journal and the white house correspondent for npr. thanks to all of you. susan, first to you, you've been watching all the body language from the speaker and the president. now at least they're in direct talks. could we get the grand bargain that was aborted a year ago? >> i'm not sure we're going to get the grand bargain, the one with the big pieces that kind of get us on a path so we don't have to revisit these issues in this way, but i think it looks more likely we're going to get a deal that will prevent us from going off the fiscal cliff and probably going to be a deal that the white house will be happy with. i think it's increasingly clear that the white house has the upper hand, they're better off if -- they're better off than republicans if we go over the fiscal cliff. they have leverage from the campaign. that's the directionion -
.c.. >> was the white house and congressional republicans put forward a plan to avoid the fiscal cliff, now, they're miles apart, gaining in their heels. the president told bloomberg tv a deal is possible, but... >> this proposal now is still out of balance. >> the plan sent yesterday offers a total of 2 tth $2 trillion in deficit reduction including $1.2 trillion in spending cuts. and00 billion in new tax revenue no. rate increases in top two percent of taxpayers. that is nonnegotiatable for the president. >> we're not going to be able to get a deal without it white house says the math doesn't add up. >> it's magic beebs and fairy dust. >> with just 28 days until deadline, negotiations reach aid stalemate. >> there is nothing going on privately that is not going on publicly. >> there are no plans at this time for leaders to meet with the president at the while the house. it doesn't sound like he's sending out invitations any type soon. >> i don't think that the yish now has to do with sitting in a room. >> today, the president did meet with the bipartisan group of governors. >> we understand wil
in washington where tonight we're no closer to compromise on a deal to avoid that show called fiscal cliff. >> it was also warm in the nation's capital despite the chill between democrats and republicans. >> president obama dug in his heels insisting on tax increase or higher earners. >> and they both agree he that the other's proposals are ridiculous. >> just a sampling of the coverage this week as the media keep a watch on what's done or not to avert the fiscal cliff. >> jim shall the overriding theme in the media seems to be that president obama won the election and therefore should do what he wants and the media seems to forget na john boehner and everyone else won their elections as well and they're a co-equal branch of government. >> i think the media loves the story of president obama's comeback and the new york time describes him as disciplined and unyielding and focused on this and i think there are other media stories as well. the second media story or narrative. which one wants to grow by virtue of the tax increases and get new perspective from the mainstream media and the third
. perhapsly have resolved the whole fiscal cliff thing in the meantime. >> excellent. >> president obama is taking his great reasonableness tour on the road again, but before the president presses his case in michigan, he and speaker boehner hold a closed-door our lips are sealed meeting on the fiscal cliff. are the seas slowly parting for compromise? we will ask michael steele, jonathan tate, and margaret carlson. plus, sweeping historic legislation from the white house or hair-tugging small ball congressional battle? what shape will immigration reform take? we will ask jose diaz ballart. >>> the supreme court gears up for laned mark term for some rights. we will look at the high court's high-low options in deciding the future of same-sex marriage. all that when "now" starts in a mere 180 seconds. [ male announcer ] truth is, dayquil doesn't treat that. really? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ breathes deeply ] awesome. [ male announcer ] yes, it is. that's the cold truth! i just finished a bowl of your new light c
the people that can demand the politicians and congress resolve this fiscal cliff, but resolve it in a way that makes our country stronger. that's why the president's come here to metro detroit. we're the home for u.s. manufacturing. also we're the home for the american worker. we need to resolve our fiscal problems, but resolve them in a way that continues to investigation in training and educating our workers and advanced manufacturing and also providing the revenue that we need to still provide health care to our seniors and social security to those who depend on it. >> sir, let's talk about getting to the sensible center here. because as the politico poll that i referenced earlier off the top of the show indicates, 59% oppose significant cuts to defense but 75% favor across the board spending cuts. so where are you and other colleagues willing to start with those spending cuts? i mean, what are democrats willing to put on the table specifically? >> well, first of all, i've spoken to many republicans in the house. i'm one of the most liberal democratic members of the house, but i have g
: former senator allen simpson said in an interview today, that a fiscal cliff compromise must include new revenue and spending cuts. >>> the sun makes a return and that helped fight off the chill a little bit. taking a live look outside. the sun has set. and there is the washington monument. it will be lit momentarily. so is winter really back after our near record warm weather? bob is in the first warning weather center, updating temperatures for us. bob? >> well, we've got clouds and milder temps. but no record-making temperatures headed our way. not going to see 70. maybe not until next spring. let's take a look at temps now. we've cooled down to 37. under high clouds that have moved in. 38 ocean city. 34 in oakland. tomorrow, and overnight tonight, clouds begin to move in. there may be a little rain in the afternoon or tomorrow night. low pressure passing to our west. but ahead of it, we'll get milder air. probably back up to 50. and maybe even into the low 50s. and even milder this weekend. but with the risk of some showers coming back.
. >>> accomplice cal experts say this could be the critical week in efforts to prevent the so-called fiscal cliff. danielle lee is on capitol hill, where lawmakers appear to be edging closer to an agreement. >> it's crunch time here in washington. analysts say president obama and speaker boehner have until the end of the week to reach a deal if lawmakers will get it passed by the friday before christmas. as a diesel engine plant, president obama stood his ground on the fiscal cliff. >> all congress needs to do is pass a law that would prehaven't a tax hike on the first $250 of everybody's income. >> the latest campaign stop had an announcement. business leaders warn this time of investment will suffer without a deal to avoid billions in tax increases and spending cuts next year. >> we have more than -- i think 103 ceos in town last week. the message was sit down, work it out. back in washington there's new momentum. yesterday p many p.m. and house speaker john boehner met one on one for the first time this year. then today staffers continued the private negotiations. the sooner the better, we all
the fiscal cliff. political reporter pat warren was with social security employees as they protested in baltimore today. >> reporter: marylanders at home and in washington know what's at stake. >> sequestration is something that we have to make sure we avoid. >> over half a million marylanders depend directly on the federal government for their job. >> the middle class has suffered enough. all marylanders will be affected if we allow the fiscal cliff to happen. >> reporter: while they hash it out on the hill, they are urging to work together to avoid automatic increases and spending cults set for the -- cuts set for the end of the year. >> a group demonstrating made their feelings known, urging a resolution that does not include cuts in social security jobs and services. >> we're concerned about the cuts to social security. and we would like to see things change. and we don't want to see our public hurt in any way. we want to serve the public every day. >> you don't take money out of people's hands when you're trying to promote jobs. >> this is
days to keep the nation from going over the so called "fiscal cliff" >> it appears americans don't mind sharing opinions.. even on things that don't exist. a recent poll by public policy polling found 25- percent of americans took a stance on a phony debt reduction policy called the "panetta-burns plan." the proposal was dreamed up by pollers to test how many people would speak on something they clearly don't know anything about. eight-percent of those polled supported the mythical plan and 17- percent in contrast, 39- percent of voters were willing to share their thoughts about the "simpson- bowles" deficit policy up for debate in >> you don't have to look >> >> nobody wants to get this done more than me. >> >> but key players aren't talking in the same room. congressional aides say they're not even >> the president is ready, willing and able, waiting to be able to sit down and seriously negotiate this but they have to be willing to come to the table with specifics. i think the next 72 hours >> some lawmakers are going back to their districts. congress has little scheduled business f
, there are just 26 days left before the fiscal cliff deadline. president obama spoke on the phone with house speaker john boehner on wednesday while his treasury secretary said the white house is, in fact, ready to go straight over the fiscal cliff. major garrett is at the white house. major, gd morning. >> reporter: good morning, charlie and norah. the president will cross over the potomac into northern virginia to meet with a family who says their taxes don't go up, they'll be happier and spend more money. that's the pr side of this. much more important, the context of the deal, keet players yesterday picked up the phone. phone call relatively brief and substantive. details remain elusive. it was shorter, sources say, to last week's 28-minute conversation described them as curt, direct and frank. no one familiar with this call used such barbed words. it also occurred before treasury secretary tim geithner laid down this harsh fiscal cliff marker. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, there's no prospect to an agreement
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